Funding you earn now, next payment 00:00 UTC+0.0177%/8h= +19.3% APRpaid last 24h +0.055%
Price spread now: Phoenix against Binance−0.074%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs+$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$340.337% of the position
Funding, last 7 days+0.528%+$53 on $10k
+Price spread, last 2 days (all we have)+0.048%+$5 · spread now −0.074%, 7d avg −0.009%
=Funding pays, the price is against you. Phoenix is 0.065% cheaper against Binance than usual: you would sell low and buy high (spread −0.074% now, against its 7-day average of −0.009%). If the spread goes back, that is −$6 on $10k: about 29 hours of funding at the current rate (+$5 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance TSMUSDT | 447.75 | 0.0002 | pay 0.0002% / 8h | 7h 49m | $13.2M | $6.9M | 20x |
| Short | Phoenix TSM | 447.42 | 0.0179 | get 0.0022% / 1h | 49m 22s | $218K | $5K | 10x |
Binance TSMUSDT
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $37.08
- Price spread: −0.074% → −0.009%
- −$6.47
- Slippage, 4 orders
- −$16.66
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$3.05
- Costs to cover
- 0.337%
- Break-even
- 7.6 days
Slippage from Binance: live order book, 6 min ago; Phoenix: live order book, 18 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Binance live order book, 6 min ago | 0.11 bp | 7.1 bp −$7 | 18.7 bp −$187 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 18 min ago | 2.68 bp | 9.4 bp −$9 | 18.8 bp −$188 | doesn't fit | doesn't fit |
TSM on 28 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0169% | 4h | 447.25 | −0.113% | $48K | $216K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.95 | −0.179% | $358K | $103K | 10x | as long as short |
| BloFin TSM-USDT | −0.0019% | 8h | 447.43 | −0.071% | $44K | $102K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 447.64 | −0.024% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 447.66 | −0.021% | $4K | $169K | 10x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 447.42 | −0.074% | $2.0M | $411K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 447.70 | −0.011% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 447.47 | −0.063% | $1.7M | $891K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 447.74 | −0.002% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 447.32 | −0.096% | $554K | $84K | — | as long as short |
edgeX TSMUSDC
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 447.28 | −0.105% | $9K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 447.41 | −0.076% | $1K | $5.0M | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | 0.0000% | 1h | 447.25 | −0.112% | $4 | $32K | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 447.27 | −0.107% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 447.41 | −0.076% | $1.5M | $452K | 10x | as long as short |
| Binance TSMUSDTlong | +0.0002% | 8h | 447.75 | long leg | $13.2M | $6.9M | 20x | |
| Lighter RH TSM | +0.0032% | 1h | 447.74 | −0.002% | $226K | $625K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 447.50 | −0.056% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 447.33 | −0.094% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 447.35 | −0.089% | $197K | $41K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 447.05 | −0.156% | $143 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 447.09 | −0.147% | $159K | $19K | 10x | as long as short |
| Lighter TSM | +0.0088% | 1h | 448.12 | +0.083% | $506K | $166K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 447.29 | −0.103% | $271K | $312K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 447.33 | −0.094% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 447.34 | −0.091% | $125 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0179% | 1h | 447.42 | −0.074% | $218K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 451.76 | +0.896% | $7K | $38K | 12x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
Deribit TSM_USDC-PERPETUAL
HTX TSM-USDT
Phemex TSMUSDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Lighter TSM
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP